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Show U. S. Steel Purchase Of Columbia Group Believed Certainty Officials of Giant U. S. Group In San Francisco; Fran-cisco; No Definite Statements Are Forthcoming- As Yet. Completion of negotiations for the acquisition of the Columbia Steel corporation by the United States Steel corporation cor-poration is expected within a few days, according to word received re-ceived from authoritative sources on the Pacific coast. The option held by United States Steel upon the Columbia Colum-bia Steel properties expires Oct. 15, and the recent arrival in San Francisco of James A. Farrell, president of the U. S. concern, and Myron C. Taylor, chairman of its finance committee, com-mittee, give indication of a speedy conclusion to the negotiations. negotia-tions. T)e:il Believed Certainty " While neither Farrell nor Taylor will commit themselves on the sub-I sub-I ject. the consum-nation of the gigantic gi-gantic deal is taken as a certainty in financial circles. I Estimates of the price to be paid for the Columbia properties have I been a subject of much speculation (since the icports of the pending ! merger began, but no authoritativo j information is yet available, j U. S. Ste?l appraisers recently : visited all the Columbia propcrries, , for the pnrposa of evaluating them 1 j for the sale negotiations. L. F. Rains, vice president and ; i general manager of Columbia Steel, is now at Pittsburg, Calif., ana Je-. Je-. clarcs that his concern will issue a ( statement concerning the status uf j negotiations on the day the option expires. The impoi lance of the extension I of the United States Steel corpora-tion corpora-tion to the Pacific coast is rcgard- ed by financiers and industrialists J here as inestimable. The Columbia Steel corporation, n S38.000.00U concern, con-cern, is rated as the most important unit of the steel industry on the coast, while the United States Steel corporation is rated as the largest " ond most important in the world. Acquisition of the Columbia Steel corporation would make a total of 195 different companies the big sLeel corporation has absorbed since it was formed in 1901. |